The Liberties area of Dublin is set to benefit from an investment of over €40 million as a result of a new property development at The Digital Hub.
The project, which is facilitated by the Digital Hub Development Agency (DHDA), is expected to create up to 300 jobs in construction in the short-term, and will result in the creation of an additional 10,650 square feet of enterprise office space at The Digital Hub, as well as a housing development for 470 students on Bonham Street in Dublin 8.
Minister Rabbitte said: “The property investment announced today is excellent news, both for The Digital Hub and the wider Liberties, and I look forward to seeing the renewed energy that both young students and digital entrepreneurs will bring to the area. The Government’s Action Plan for Jobs asks for cross-cutting measures with the potential to have a significant impact on job creation, and this development does exactly that. It should come as no surprise that it is the Digital Hub that is behind a project that is startling in its innovation and efficiency.”
“I sincerely congratulate the DHDA on negotiating this deal, which will revitalise the area. The 300 construction jobs and digital enterprises supported will contribute to the economic sustainability and the regeneration of The Liberties, one of the most iconic and historically important areas of Dublin.”
Knightsbridge Student Housing Ltd. will invest substantially in this development, which will see the development of both the Grainstore building and high quality student accommodation.
Edel Flynn, Chief Executive Officer of the DHDA, said: “Currently, the Digital Hub campus has high occupancy, so it is great that new office space will be available soon to cater for the ongoing demand we experience for space from growing digital enterprises. The refurbishment will preserve the Grainstore building into the future and will provide digital companies with the opportunity to locate their office space in a unique setting. We look forward to welcoming more companies into our vibrant cluster of over 70 enterprises.”
Commenting on the project, Bob Crompton, CEO of Knightsbridge, said: “Although we have a strong presence in four European markets, this development is our first entry into the Irish Higher Education Sector, so it is a really exciting move for us. Our aim is to provide high-quality, service-led student accommodation, and we believe Dublin 8 provides a perfect location for that. It makes good sense to locate student housing close to a project such as The Digital Hub, where growing enterprises are constantly on the lookout for new talent.”